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Microfinance: Alterr'Egaux, to go to Togo!
The student IMF (Institution for MicroFinance) group pursues its mission in Africa!
The Burgundy School of Business student association of Alterr'Egaux, created in 2009, is developing micro-credit in Togo. This is the only student association in France formed as an IMF (Institution de MicroFinance) with a Polytechnic counterpart.
Last summer, four students, now in their 3rd year of the Programme Grande Ecole, were able to collect over 6000€ with which to go for two and a half months to the small village of Adeta. Their objectives: grant loans, give trainings to people (especially women) so that they may become autonomous and to do field research in order to add to the research of the school. The students also recruited and hired a local accountant who is able to maintain and manage the loans locally.
This year the adventure continues and grows as more than ten students return to Togo in June and July to continue their work. Today, the association counts more than 40 borrowers, and hopes to help at least 30 more between now and August. Each of the borrowers receives an average of 60 000 F. CFA (about 100€) for a loan term of about 12 months.
Follow the progress of d'Alterr'Egaux 2010 at http://togot2010.canalblog.com/